Chenghe Acquisition II, a blank check company targeting businesses in or with a focus on Asian markets, filed on Monday with the SEC to raise up to $75 million in an initial public offering.
The Singapore-based company plans to raise $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Chenghe Acquisition II would command a market value of $103 million.
Chenghe Acquisition II is led by CEO and Director Anna Zhou, who previously served as a Senior Associate at Mighty Divine Investment Management, and Chairman Shibin Wang, the co-founder and CEO of regulated digital asset exchange Hong Kong Digital Asset Ex. The SPAC plans to target growing companies in Asian markets or global companies with a presence or focus in Asia.
The sponsor's previous SPACs include Chenghe Acquisition I (LATG), which has a pending merger agreement with golf shaft maker Femco Steel Technology (TWO: 6731) and for which Zhou also serves as CEO and CFO, and Chenghe Acquisition, which completed its combination with optical components provider Semilux International (SELX; -81% from $10 offer price) this past February.
Chenghe Acquisition II was founded in 2024 and plans to list on the NYSE American under the symbol CHEB.U. The company filed confidentially on April 4, 2024. Cohen & Company Securities is the sole bookrunner on the deal.
